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Google shifted nearly $23 billion in profits to a tax haven in Bermuda in one single year, allowing it to avoid triggering U.S. income taxes and European withholding taxes in its foreign income. How did they do it? Are using tax havens in this way legal?

While printing postage from the internet is convenient, it may not be a good idea to do so for payments or petitions mailed to the IRS. That’s what one taxpayer recently learned when her correspondence was regarded as being late despite the timely date her private postage label clearly displayed.

NBA star Zaza Pachulia and his wife recently learned the hard way that it’s critical to use a reputable accountant. Pachulia’s identity was used by his accountant, Randy Usow, to defraud the IRS of more than $800,000. The case is eye-opening in several ways:

Retiring soon? Congratulations! Certain changes in the tax code affect your income taxes as you retire, including healthcare deductions and Social Security distributions. If you’re a business owner, other changes can affect how you plan your succession and the potential sale of your business.

Funds received as proceeds of a loan aren’t taxable as long as you’re expected to pay it back. However, the moment some or all of the debt is forgiven (and doesn’t need to be paid back), the IRS will jump in and want its cut.

Have you ever heard about a tax strategy you thought was so crazy, it just might work? Here’s what we can tell you: If it’s illegal, the IRS has seen it before, and it’s only a matter of time before they catch on.

Lawsuit settlements just became more profitable…for the IRS. Under the new tax code

, most personal claims are now taxed at 100% with no deduction for legal fees. That’s right: In those cases, the plaintiff will be taxed on the fees paid to the attorney and so will the attorney who receives them!

An entirely new centralized partnership audit regime has finally replaced 1982’s TEFRA partnership procedures when it comes to partnership audits. The new rules, which are part of the Bipartisan Budget Act of 2015 (BBA), apply to partnership tax years beginning January 1, 2018. Partnerships can elect to apply them to returns dated as early as November 2, 2015.

At face value, it seems the IRS has a very low barrier to personally penalize a member of business management when payroll taxes withheld from employee paychecks (called trust fund money) aren’t submitted to the IRS. Time after time, the IRS seems to win these cases. What it really comes down to is whether the stakeholder knowingly and recklessly disregarded the risk of non-payment. It’s why a Seinfeld icon and soup mogul was recently on the hook for back taxes (read that story here) and why tax practitioners rarely seem optimistic when the IRS claims a trust fund penalty is due. However, a recent case shows there is light at the end of the tunnel and that light is called “reasonable belief.”

Expertise

When you hire Steven Bankler and his team of certified public accountants, you get seasoned, knowledgeable CPAs.

Rather than experienced bookkeepers, promising CPAs-in-training or studious interns in the process of completing their accounting degrees, you get professional CPAs. We Solve Problems. We provide creative solutions to our clients’ unique problems including tax and estate planning, forensic accounting, expert witness and litigation support.

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For corporate professionals handling multi-million dollar budgets and VIP accounts, the day-to-day accounting can be daunting. “We sought out Steven because of his expertise with start-up capital issues. His team has propelled us forward... --Jason and Colleen Benavides, Bahama Buck's Leon Springs, Owners >>Read more

"The Bankler motto is true; we really have saved money. Steven helped us restructure and find smarter ways to do business. Other accountants will tell you, ‘I don’t see anything in the tax code that says we can do it.’ Steven will tell you, 'I don't see anything in the tax code that says we cannot do it... --John F Dini and Leila Dini, MPN, Inc., Owners >>Read more

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Steven Bankler understands business. As a businessman who is also a CPA since 1977, his proven track record speaks for itself. View his detailed experience here:

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For over 30 years, daily newspapers, television networks and affiliates and prominent newstalk radio programs have published and broadcasted Steven Bankler’s insights on a wide range of forensic accounting and tax topics. His expert opinion is highly regarded in informing and educating the public, as well as judges, and juries on complex issues.